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Current as of January 02, 2024 | Updated by Findlaw Staff
Sec. 3. It shall be the duty of the holder of any mortgage on household goods, or the agent of such holder or mortgagee whose duty it is to receive money on such mortgage, when any money, check or anything taken in payment on such mortgage or interest due thereon, is received by them from the mortgagor or from any person acting for the mortgagor, to give to the mortgagor or person making the payment a receipt specifying the amount paid and stating the unpaid balance, if any. However, no receipt is required where payment is made by check. If any such holder or mortgagee or the agent of such holder or mortgagee whose duty it is to receive such payments, shall fail to execute and deliver such receipt to the mortgagor, such mortgage shall be void.
Cite this article: FindLaw.com - Indiana Code Title 26. Commercial Law § 26-2-2-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-26-commercial-law/in-code-sect-26-2-2-3/
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